In its money markets segment, Tradeweb reported repo daily volumes (ADV) up 35.2% year-over-year (yoy) to $534.7 billion, slightly up from October’s $527.2 billion.
“Increased client adoption of Tradeweb’s electronic trading solutions drove record global repo activity. Current US market conditions shifted demand from the Federal Reserve’s reverse repo facility to money markets. Retail money markets activity continued to be strong as interest rates remained elevated,” Tradeweb said in a statement.
Total trading volume across rates, credit, equities and money markets for the month was $38.2 trillion and ADV was a record $1.80tn, an increase of 59.2% yoy.